"Consistent with section 101(f) of title I of the Compact of Free Association Amendments Act of 2003 (Public Law 108-188), I transmit herewith the Agreement Concerning Procedures for the Implementation of United States Economic Assistance Provided in the 2023 Amended Compact Between the Government of the United States of America and the Government of the Republic of the Marshall Islands (2023 FPA), the Agreement Between the Government of the United States of America and the Government of the Republic of the Marshall Islands Regarding the Compact Trust Fund (2023 TFA), and the Agreement between the Government of the United States of America and the Government of the Republic of the Marshall Islands to Amend the Compact of Free Association, as Amended (2023 Amended Compact). The 2023 FPA, the 2023 TFA, and the 2023 Amended Compact (Agreements) were signed at Honolulu on October 16, 2023.
These Agreements with the Republic of the Marshall Islands (RMI) serve the important purpose of assisting in the RMI's development and maintaining our close relationship. The 2023 Amended Compact would obligate the United States to provide $1.6 billion over 20 years in grant assistance and $700 million in new Compact Trust Fund contributions. The 2023 FPA would maintain oversight and accountability for United States taxpayer funds provided to support essential government services. The 2023 TFA would restructure the current Compact Trust Fund in order to provide either sector support or distributions to eligible recipients. New contributions to the Compact Trust Fund would be directed to support extraordinary needs distributions for people in the RMI.
Extending such assistance is a critical component of my Administration's Indo-Pacific, Pacific Partnership, and National Security Strategies. These Agreements demonstrate our long-term commitment to and strengthen our broader bilateral relationship with the RMI, fostering economic prosperity and stability that form the foundation of our strategic interests in the Indo-Pacific region.
I transmit herewith the 2023 Amended Compact, the 2023 FPA, and the 2023 TFA for the implementation of these Agreements related to the Compact of Free Association Between the United States and the Republic of the Marshall Islands."